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Title : Number Of Active Rigs In ND Down To 51 -- October 31, 2017
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Number Of Active Rigs In ND Down To 51 -- October 31, 2017

Active rigs:

$54.12→	10/31/2017	10/31/2016	10/31/2015	10/31/2014	10/31/2013
Active Rigs	51	34	70	193	180

RBN Energy: Marcellus/Utica natural gas production breaking records again.

A year ago, Lower-48 natural gas production was in steep decline and averaging less than 71 Bcf/d by the fall, down from nearly 74 Bcf/d in February 2016. The oil-price crash of 2014 had taken a toll on gas output, led by a drop in Texas. To add to that, Marcellus/Utica gas supply — which had helped prop up overall domestic gas production volumes — was no longer growing enough to offset those losses. The resulting decline in Lower-48 production helped to correct a huge storage imbalance that had developed in the market following the brutally mild winter of 2015-16.

That’s a far different picture than what’s happened in 2017. Gas production began this year below 70 Bcf/d, but has climbed to more than 74 Bcf/d in the past couple of months. And just last Thursday (October 26), production set a new record of 75.7 Bcf/d, exceeding the previous single-day record of 75.1 Bcf/d set in April 2015.

Several of the major supply basins are contributing to that uptick, but Marcellus/Utica gas production is again leading the pack. Today, we check in on Northeast gas production using pipeline flow data. 

When we last looked into Northeast gas production using pipeline flow data in our April 2017 blog Unchain My Heart, the region was contending with high storage levels, insufficient demand and an overall low price environment — all the bearish effects of two consecutive mild winter seasons. Under those conditions, supply growth in the region had become downright sluggish. But that’s all changed in recent months. Rigs have returned to the region, activity has picked up and so has output. Today, we return to the same daily pipeline flow data from our friends at Genscape to see the latest trends in Northeast production.

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